Post Utme Veritas University 2020 Accounting Question 45

Practice objective / multiple choice question 45 from the 2020 Post Utme Veritas University Accounting examination.

Post Utme Veritas University 2020 Accounting Objective / Multiple Choice
Question 45 POST_UTME_VERITAS_UNIVERSITY • 2020 • ACCOUNTING • objective

A company has the following transactions in its ledger accounts: ₦20,000 debit to purchases account and ₦15,000 credit to purchases account. What is the net effect on the purchases account?

Answer Options

Correct Answer A. ₦5,000 debit
B. ₦5,000 credit
C. ₦10,000 debit
D. ₦10,000 credit
Correct Answer
A
Correct Option:
₦5,000 debit

About This Question

This is Post Utme Veritas University 2020 Accounting Question 45. It is one of the objective questions from the 2020 Post Utme Veritas University Accounting examination.

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